Bermuda again airdrops USDC, aiming to become the world’s first on-chain national economy

According to CoinDesk, on May 6 at the Consensus Miami 2026 conference, Bermuda Prime Minister David Burt announced that the Bermuda government plans to again air drop USDC stablecoins to attendees during the Bermuda Digital Finance Forum scheduled for May 11 to 14, while also introducing more local merchants that can accept digital payments.

On-Chain Economy Plan: Policy Objectives and Collaboration Framework

According to a press release issued by the Bermuda government on May 5, 2026, Burt said Bermuda’s goal is to become “the world’s first economy fully based on the blockchain,” using USDC as the primary medium of exchange to provide alternative payment infrastructure for small businesses facing high transaction fees from traditional card networks and banking channels.

Burt said in the press release: “Since we announced this initiative in Davos earlier this year in January, we have been working closely with leading digital asset companies, including Circle and Coinbase, to help us achieve this vision.”

At Consensus Miami 2026, Coinbase Chief Legal Officer Paul Grewal said Bermuda’s model is a “paradigm of building in parallel with regulators and private companies,” and also noted that the United States’ current regulatory stance has shifted toward a more constructive approach.

According to a joint press release from January 2026, Bermuda’s “on-chain economy” plan includes three implementation directions:

· Government agencies pilot stablecoin payments

· Financial institutions integrate tokenization tools

· Promote digital financial literacy education for residents

USDC Airdrop Implementation Details: 2025 Pilot and 2026 Expansion

According to CoinDesk, during Bermuda’s 2025 Digital Finance Forum, the government air dropped 100 USDC to each attendee. Attendees received the funds via digital wallets and could use them directly to spend at local participating merchants. The 2026 forum is scheduled for May 11 to 14, and the government plans to launch another USDC airdrop while expanding the range of participating merchants.

Regulatory Framework: The Digital Assets Business Act and the 2019 Tax Policy

Based on publicly available legislative records, Bermuda passed the Digital Asset Business Act in 2018, establishing a comprehensive digital asset regulatory framework. Both Circle and Coinbase were among the first licensed entities under this framework. The Bermuda Monetary Authority (Bermuda Monetary Authority) continues to cooperate with relevant companies to handle digital asset-related matters. Bermuda also announced in 2019 that it would begin accepting dollar-backed digital currencies to pay government taxes, fees, and service charges.

Burt said at Consensus Miami 2026: “You can’t eliminate failure through regulation, but you can build some mechanisms that make responsible innovation possible.”

Frequently Asked Questions

What was the timing and background of the first announcement of Bermuda’s “on-chain economy” plan?

According to a joint press release from the Bermuda government and Circle and Coinbase, the initiative was first announced by Prime Minister David Burt at the Davos forum in January 2026. Collaboration partners include Circle and Coinbase, with the goal of establishing everyday stablecoin payment infrastructure centered on USDC.

What are the details of the USDC airdrop plan for Bermuda’s 2026 Digital Finance Forum?

According to CoinDesk, the 2026 forum is scheduled for May 11 to 14, and the government plans to air drop USDC again. In the 2025 forum, each attendee received an air drop of 100 USDC, and attendees used the digital wallet funds to spend directly at local merchants.

When was Bermuda’s digital asset regulatory framework established?

According to publicly available legislative records, Bermuda passed the Digital Asset Business Act in 2018 to establish a comprehensive digital asset regulatory framework; starting in 2019, it began accepting dollar-backed digital currencies to pay government taxes and service fees. Both Circle and Coinbase were among the first licensed entities.